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Nebraska And Oklahoma Sue Colorado for Legalizing Cannabis

Nebraska and Oklahoma have filed suit in the United States Supreme Court against Colorado for Colorado’s having legalized cannabis. Yes, you got that right. Two states have sued another state for what that other state did within its own borders. The two states (for purposes of this post, let’s refer to them as the “NO

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Tribes And Cannabis: This Will Be Big

Just last week — on the heels of the Cromnibus defunding enforcement of federal marijuana laws in states with medical marijuana programs — the federal government announced that Native American Tribes are free to legalize, cultivate, manufacture, and distribute cannabis on tribal lands without federal intervention. Though many tribes have no interest in getting into the cannabis business, the Mohegan, Suquamish, and Seneca

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Medical Marijuana in the Omnibus Bill

Medical marijuana advocates have been jubilant for the last few days because of Congress’s move to disallow the Department of Justice from enforcing federal law in medical marijuana states. How did this happen and what does it really mean? Congress passes annual appropriations (spending) bills to fund the federal government, including the activities of all agencies

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A Federal Marijuana Tax: Why It Might Just Be A Good Thing

This month, the Congressional Research Service (a research arm of Congress) released a comprehensive report, entitled Federal Proposals to Tax Marijuana: An Economic Analysis on the possibility of the federal government establishing a wholesale excise tax on cannabis products. The economic analysis noted that studies in the UK and Canada suggest that the societal costs of individual

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State Marijuana Law Effects On Federal Tax Liability

We are nearing the end of the year, when most marijuana businesses are also ending their fiscal years. That will be the start of an arduous process: dealing with the federal tax situation. The ramifications of Section 280E of the tax code have been analyzed to death on this blog and in many other publications.

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Lending To Marijuana Businesses: The Webinar, December 4

On December 4, Robert McVay, one of our cannabis business attorneys, will be speaking via webinar on Lending to Marijuana Businesses. National Business Institute (NBI) is putting on this webinar, which will run from 2:00 p.m. to 3:30 p.m., Eastern time on December 4th. NBI gives the following overview on this event: To best assist your

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Politics and Pot: Will D.C. Marijuana Initiative 71 Stand?

The Republican Party won enough races in this month’s elections to take control of both the U.S. Senate and strengthen their majority in the House of Representatives. Other victors were supporters of legalized marijuana. By a margin of over 2 to 1 (96,899 yes votes to 42,495 no votes), Washington, D.C. residents approved Ballot Initiative

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In the Wake of Marijuana Legalization, It’s Time to Repeal Section 280E

As lawyers, we were trained to spot injustice. Section 280E of the Internal Revenue Code is an injustice. For that reason, we have and will continue to write about why Section 280E should be repealed. New York lawyer/writer Anne Wallace recently wrote an article, Time to Repeal Section 280E, effectively arguing for repealing Section 280E. The article notes

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Cannabis Banking: Is Bitcoin the Answer?

Banking in the cannabis industry is developing very slowly. A few banks and credit unions are doing business in each of the states where marijuana business is legal, but we are not seeing an explosion of services. A number of our clients have asked whether using Bitcoin makes sense. Using Bitcoin to replace having a

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Five Leading Ladies of Legalization

Women favor marijuana legalization at rates not all that different than men. It is a bit ridiculous that I even need to say this, but there is a persistent myth out there that says women oppose marijuana legalization in much greater numbers than men. But not only do women favor legalization in substantial numbers, they have helped to